On the dry-bulk front, it was a very quiet week with only few sales to report; Older handymax MAGICFORTIS (42K BLT 1985 MITSUI/JAPAN CR 4X25T, LDT 7455) is rumoured sold to Chinese buyers region excess $4 mill while her sister SLOVENIJA (42K BLT 1985 MITSUI/JAPAN CR 4X25T, LDT 7348) is also reported sold to Chinese for the higher price $4.9 mill (indicating her better condition).

Both vessels had a scrap value of about $3.6 mill. Clients of Precious of Thailand are continuing to acquire modern Indian blt tonnage having just committed handy sisters GOOD PRINCESS & GOOD PACIFIC (30K BLT 2008 HINDUSTAN/INDIA CR 4X30T) on private terms. Price is expected similar to their last purchase a couple of weeks ago GOOD PILGRIMS (29K BLT 2009 HINDISTAN/INDIA CR 4X30T) for $17.7 mill. Modern panamax MINERAL STAR (76K BLT 2005 TSUNEISHI/JAPAN) is reported to have 5-6 parties inspecting this weekend during her China call.

In the Tanker segment, Greek buyers have bought Stainless steel chemical unit EASTERN GOODWILL (8.7K BLT 2001 SHIN KURUSHIMA/JAPAN, IMO II,) for $8.3 mill.

On the container/mpp front, RoRo unit HERMES (9K BLT 1998 KEGOYA/JAPAN DER 1X25T CR 2 X30T) has gone to Far-Eastern buyers for $6.5 mill.

In the Demolition sector, we have great activity noticing 6 panamax bulkers, one aframax and one panamax tanker heading to the scrapyards. Subcontinent short term forecast is NEGATIVE & prices are down by $10 per lt ranging at $475 for bulkers, at $500 for tankers & at $500 for Tweendeckers/Containers. In other major demo-markets this week, China is down paying $425, as well as Turkey paying $330 per lt.

Click on the link below to download the report in PDF format:

http://www.seanews.com.tr/reports/Lion Weekly Report 10 February 2012 W06.pdf